Women in Trading - Journaling | Tackle Trading: The #1 rated trading education platform

Women in Trading – Journaling

Journaling: I know based on my own experience that it is the most dreaded topic when it comes to trading, yet it is an important part of a trader’s journey.

Hello, Tackle Traders.

Journaling: I know based on my own experience that it is the most dreaded topic when it comes to trading, yet it is an important part of a trader’s journey. Why do we all avoid it? I’ve met many students that are so disciplined in all other areas of trading like position sizing, asset allocation, strategy selection, delta and theta rules yet when it comes to journaling the same level of focus and attention to detail is lacking.

If family feud had a chance to poll a bunch of traders asking what they like most about trading, I can guarantee journaling would not come in as the number #1 answer. It might be shocking if it even came up as an answer. So why to we avoid it or put it off for so long, yet we hear all the time how essential it is to journal? I guess to answer that question we need to answer the other question of why is journaling so important? Most people think that their statement from their brokerage is sufficient enough as a way to keep track of your profit and loss. That is true, however looking at your profit and loss tells you nothing about how the strategies you used to trade played out. It tells you nothing about the type of trader you are, be it a day trader, swing trader, position trader or investor. It also does not layout whether you have a bias towards certain stocks or sectors. Knowing which stocks were the major contributors to those wins or loses is kind of a big deal and P/L number on your screen tells you none of that. If journaling is that important, the reason we do not take it as seriously as determining our entry or position sizing for example is quite frankly, we become lazy and lack the discipline and consistency we have everywhere else.

If you ran a retail business, you’d want to know what products or services generate a higher revenue over others. You’d want to know the cost of said products or services and the returns they yield. Do certain products appeal to one demographic over another and so on and so on. If you do not keep a trading a journal, how can you tell the success rate of your cash flow vs directional trades? Better yet, are you better with naked puts or covered calls? You may peg yourself as a cash flow position trader however based on your wins and loses you might find that you are a better directional swing trader. If you are being coached, your coach can easily identify any flaws in your business just by looking at your trade journal. There are no ifs or buts around this, just do it!

Tonight we continue the discussion on journaling. To get you prepared for this, you will find a few articles on journaling and how to use the spreadsheets at the end of this article.

Go time is at 8:30 pm est for the Women In Trading Webinar so I’ll see you there and invite a girlfriend or two.

Until next time!

Coach Em


Tackle Trading Resources on Journaling

Continue learning about this powerful trading tool: the Trade Journals. Tackle Trading has all the resources you need to MASTER them like a PRO. From the Trade Journals themselves to free articles and tutorial videos on how to make the most out of them, we got you covered!

Trade Journaling for Beginners [Free Articles]


Tackle Trading: Financial Freedom is a Journey. Sign up now for a 15-day free trial.

Financial freedom is a journey

Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.


Legal Disclaimer

Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.

All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.

Share this

X
Facebook
LinkedIn
Reddit
Pinterest
Telegram
WhatsApp

More Insights

Join the #1 Rated Trading Education Platform

Learn to generate monthly cash flow from the financial markets and how to grow long-term lasting wealth. Tackle Trading is an amazing online community for active traders that is led by seasoned market professionals. Tap into the power of Tackle Trading’s proven trading system and learn how easy it is to make money with the proper coaching and education.

8,800+

Members

100+

Reviews

Ready to take your trading to the next level?

Get in touch today and receive a FREE complimentary consultation.

Let us help you start trading!

Our Pro Membership gives you the tools to tackle all your trading obstacles.

Register for the Master Trader Live Workshop and get the First 15 Days on Us

Book a FREE Consultation

Sign up for a free consultation to build your Educational Plan.